Recording Bond Sale and Interest Expense: CH 10 Wiley Plus

2:35 464 A g+ E . . . education.wiley.com V NWP Assessment Builder UI Application NWP Assessment Player Ul Applica S CH 10 Wiley Plus Homework CH 10 Wiley Plus Homework Question 3 of 11 3/3 3 : View Policies Show Attempt History Clooney Corporation issued 3,000 7%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a Your answer is correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 |Cash 3,000,000 Bonds Payable 3,000,000 eTextbook and Media List of Accounts Attempts: 1 of 4 used MacBook Pro esc Q A 6 CO W E R U O S D G H J K X C N M command MOSISO command education.wiley.com CH 10 Wiley Plus Homework NWP Assessment Builder UI Application NWP Assessment Player Ul App Viley Plus Homework Question 3 of 11 3/3 = ! (b) Your answer is correct. Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense 10,000 Interest Payable 210,000 eTextbook and Media List of Accounts Attempts: 1 of 4 used